(2) : A feeder fund is an investment fund which does at least 85% of its investments into another fund called a master fund. Performance of feeder funds will be lower than performance of their master funds because of its own management fees.

* These performance refer to previous years.
Past performance is not a reliable indicator of future performance.
Source: Natixis Asset Management.

Risk indicators

Rolling monthly figures as of 17/01/2019 - H-I(C) JPY

1 year

3 years

Volatility

Volatility: the volatility of a portfolio
is the dispersion of returns around their mean value. In mathematical terms,
volatility can be defined as the standard deviation of returns. The higher
the volatility, the riskier the portfolio.

5.07

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Tracking error (ex post)

Tracking error: The Tracking error
measures the dispersion (standard deviation) of the spread between the
Account returns and its Benchmark returns. A high value of this indicator
implicates irregular spreads between the Account returns performances and
these of its Benchmark. It is annualised, using monthly returns of both
the Acount and its Benchmark.

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Information ratio

Information ratio: A ratio that measures
a fund's tendency to outperform (positive ratio) or under-perform (negative
ratio) the returns of its benchmark. A high information ratio is beneficial
to the subscriber, since it indicates that the risk taken by the fund manager
(in relation to the benchmark) has paid off.

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Sharpe ratio

Sharpe ratio: The Sharpe Ratio is a
measure of the excess return (or risk premium) per unit of risk in comparison
to a risk free rate investment. It is calculated both for account and its
benchmarks. The risk free rate investment management is generally assimilated
to a pure monetary management performed to the overnight rate (Eonia).
It is annualised, using total returns of the Account or of its Benchmark.

0.94

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Beta

Beta: A coefficient that measures the
relative volatility (or specific risk) of a share in relation to its benchmark.
A beta of below (or above) 1 indicates that volatility is below (or above)
that index. The beta therefore measures a portfolio's degree of sensitivity
in relation to the market.

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We draw subscribers' attention to the time
lag between the date the net asset value is calculated and its publication
date. The day's NAV may be obtained by sending an email to the following
address: nam-service-clients@am.natixis.com.

Documents

Legal information

Taxation will depend on each client's individual
status and may be changed in the future. Not every fund is appropriate
for all investors. The risk relating to an investment in a fund is
described in each specific fund prospectus and may be downloaded from this
website. Natixis Asset Management urges the investors to read this document.
As part of the FATCA process, the registrar, when opening an account or the client's account holder,
when subscribing, must exchange information with the tax authorities, in the framework of the investigations carried out on the research of US person.